Investors can get a rock-bottom rate and handy features with this mortgage.
The Reduce Investor Rate Buster High Lend Variable Home Loan offers investors both value and flexibility. It comes with a competitive variable rate and features that can help investors manage their home loan.
Reduce Investor Rate Buster High Lend Variable Home Loan Cashback Offer
The Reduce Investor Rate Buster High Lend Variable Home Loan is currently offering $1,500 cashback on loans of more than $500,000. Terms and conditions may apply. Check the lender's website for details.
|Product Name||Reduce Investor Rate Buster High Lend Variable Home Loan|
|Interest Rate Type||Variable|
|Interest Rate (p.a.)||3.89%|
|Comp Rate^ (p.a.)||3.89%|
|Minimum Loan Amount||$50,000|
|Maximum Loan Amount||$2,000,000|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||80%|
|Mortgage Offset Account||Yes|
|Loan Redraw Facility||No|
|Split Loan Facility||Yes|
|Suitable for Investment||Yes|
|Repayment Type||Principal & Interest|
|Lender's Legal Fee||$220 Plus disbursements|
|Valuation Fee||$250 covers up to $330|
|Ongoing Fees||$0 p.a.|
- Pay $0 service fee.
- 100% offset account (with $10 monthly fee).
- There is $0 application fee.
- There is a settlement fee of $0.
What do I need to know about this loan?
This loan is available for investors who are purchasing or refinancing their investment property. It's suitable to individuals, companies or discretionary trusts.
A note on comparison rates
The comparison rate includes the cost of fees and the interest rate. Reduce is offering a 5-year loyalty discount on the interest rate to offset the added cost of fees over the life of a loan. This is why Reduce's comparison rate can be equal to or lower than the interest rate, depending on the loan term.
What are the features and benefits of the Reduce Investor Rate Buster High Lend Variable Home Loan?
- Loan amount and purpose. This loan is only for investors. It has a minimum loan amount of $50,000 and a maximum loan amount of $2,000,000.
- Loan-to-value ratio. The Reduce Investor Rate Buster High Lend Variable Home Loan has a maximum LVR of 80%. This means you’ll need at least a 20% deposit.
- Flexible repayments. This loan allows weekly, fortnightly or monthly repayments, and you can make as many additional repayments as you like without penalty.
- 100% offset account. For an additional $10 a month, you can get a 100% offset account with a debit card to help you access funds.
- Free redraw. You can access any additional repayments you've made via the redraw facility. There's no minimum amount for Internet redraws.
What fees and charges come with this loan?
- Application fee: $0. This fee is waived for loan amounts above $500,000.
- Settlement fee: $0. This fee covers the costs of disbursing the funds for your home loan.
How do I apply for this loan?
If you're interested in the Reduce Investor Rate Buster High Lend Variable Home Loan, you can click the link below. You'll be asked to fill in a few details, and a helpful Reduce Home Loans team member will contact you to walk you through the application process.